Mixed ferrite containing certain amounts of magnesium, manganese and ferric cations was prepared using a simple method. The as prepared ferrite was characterized X-ray diffraction (XRD), Scanning electron micrographs (SEM) infrared (IR) spectroscopy and Energy dispersive X-ray (EDX) techniques. These techniques revealed that the employed preparation method led to formation of a single phase of nano crystalline Mn0.5Mg0.5Fe2O4 powder which belongs to spinel structure. However, the structural and morphological properties of the as synthesized ferrite were determined. The magnetic properties of the obtained ferrite were investigated using VSM technique. In addition, the results revealed that the surface area of Mn0.5Mg0.5Fe2O4 was greater than that of both MnFe2O4 and MgFe2O4.